Krispy Kreme (NASDAQ:DNUT) Stock Price Up 1.4% – Here’s Why

Krispy Kreme, Inc. (NASDAQ:DNUT) rose 1.4% on Friday . The stock traded as high as $9.89 and last traded at $9.87. Approximately 341,475 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 1,999,605 shares. The stock had previously closed at $9.73.

Wall Street Analysts Forecast Growth

DNUT has been the subject of a number of research reports. Bank of America boosted their target price on Krispy Kreme from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Morgan Stanley began coverage on shares of Krispy Kreme in a research note on Tuesday, November 5th. They set an “equal weight” rating and a $14.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their target price on shares of Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Krispy Kreme has an average rating of “Moderate Buy” and an average price target of $15.56.

Krispy Kreme Trading Up 0.2 %

The company has a market capitalization of $1.66 billion, a PE ratio of 57.35, a PEG ratio of 4.21 and a beta of 1.34. The company has a current ratio of 0.35, a quick ratio of 0.28 and a debt-to-equity ratio of 0.67. The business’s 50-day simple moving average is $10.84 and its two-hundred day simple moving average is $10.92.

Krispy Kreme Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be paid a dividend of $0.035 per share. The ex-dividend date is Wednesday, January 22nd. This represents a $0.14 dividend on an annualized basis and a yield of 1.44%. Krispy Kreme’s dividend payout ratio (DPR) is presently 82.35%.

Hedge Funds Weigh In On Krispy Kreme

A number of institutional investors have recently made changes to their positions in the business. Bamco Inc. NY increased its stake in shares of Krispy Kreme by 4.2% in the third quarter. Bamco Inc. NY now owns 10,481,319 shares of the company’s stock worth $112,569,000 after buying an additional 425,630 shares during the last quarter. Banco Santander S.A. grew its holdings in Krispy Kreme by 0.3% during the 3rd quarter. Banco Santander S.A. now owns 6,916,972 shares of the company’s stock worth $74,288,000 after acquiring an additional 21,723 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Krispy Kreme by 38.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,779,882 shares of the company’s stock worth $40,670,000 after purchasing an additional 1,042,345 shares during the last quarter. Millennium Management LLC raised its stake in shares of Krispy Kreme by 136.7% in the 2nd quarter. Millennium Management LLC now owns 3,500,855 shares of the company’s stock valued at $37,669,000 after purchasing an additional 2,021,974 shares in the last quarter. Finally, Samlyn Capital LLC lifted its position in shares of Krispy Kreme by 120.5% during the second quarter. Samlyn Capital LLC now owns 2,230,176 shares of the company’s stock worth $23,997,000 after purchasing an additional 1,218,699 shares during the last quarter. 81.72% of the stock is owned by institutional investors and hedge funds.

Krispy Kreme Company Profile

Krispy Kreme, Inc, together with its subsidiaries, produces doughnuts in the United States, the United Kingdom, Ireland, Australia, New Zealand, Mexico, Canada, Japan, and internationally. The company operates through three segments: U.S., International, and Market Development. The company offers doughnut experiences through hot light theater and fresh shops, delivered fresh daily branded cabinets and merchandising units within grocery and convenience stores, quick service restaurants, club memberships, drug stores, and ecommerce, as well as through its branded sweet treat line comprising Krispy Kreme branded sweet treats.